The Watch: Extreme Weather Hurting Us Housing
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Climate change is making housing more costly and less stable for many people in the US, with extreme weather events causing property damage and increasing costs. Researchers found that communities at risk for wildfires and sea level rise pay higher interest rates on municipal bonds, leading to increased property taxes and displacement from disasters.
Climate change is affecting US housing, making it more costly and less stable. Extreme weather events like wildfires and sea level rise are causing property damage and increasing costs. Communities at risk for these events pay higher interest rates on municipal bonds, leading to increased property taxes. Between 2000 and 2022, residents in vulnerable cities paid an additional $4 billion in property taxes. Displacement from disasters is also accelerating homelessness in the US. Researchers recommend building and retrofitting housing for greater climate resilience and improving support for housing recovery after disasters.
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